Drug major Cipla will seek shareholders approval to raise up to Rs 4,000 crore via issue of securities in both domestic and global markets. The company said its board has approved raising funds up to Rs 2,000 crore. It could be via issue of shares or American Depository Receipts (ADRs) or Global Depository Receipts (GDRs) or Foreign Currency Convertible Bonds (FCCBs) or other securities, whether denominated in rupee or foreign currency through a public issue or a private placement, it said.
The board also approved raising of funds up to Rs 2,000 crore by issue of non convertible debentures (NCDs) or bonds, in rupee or foreign currency through a public issue or a private placement, it added. The fund raising is subject to necessary permissions sanctions and approvals and the company is seeking approval of shareholders for the aforesaid enabling resolutions by means of postal ballot, Cipla said. The announcement was made after market hours yesterday, 19 December 2016.
Shares of Tata Group companies will be watched after Cyrus Mistry after market hours yesterday, 19 December 2016, resigned from the boards of all publicly listed companies of the Tata group, including Tata Motors and Indian Hotels, after he was unceremoniously removed as the chairman of Tata Sons on 24 October 2016.
Tata Coffee announced plans to set up a freeze dried coffee plant in Vietnam with an installed capacity of 5000 metric tonnes (MT) per annum. This would be done through a subsidiary of the company to be incorporated. The project is subject to the completion of all legal and other formalities. Estimated project cost is $50 million (approximately Rs 350 crore). This move will further strengthen Tata Coffee's growth in the premium instant coffee segment. Tata Coffee already has strong expertise in manufacturing freeze dried coffee at its plant in Theni, Tamil Nadu, which develops blends customized to varied consumer preferences. Freeze dried coffee is a growing segment worldwide in the premium instant coffee segment. Instant Coffee accounts for about 20% of the global coffee consumption with freeze dried instant coffee being the most premium. The plant in Vietnam will serve discerning global customers of Tata Coffee with new product mixes of freeze dried coffee. The announcement was made after market hours yesterday, 19 December 2016.
Wockhardt said that UK Medicines and Healthcare products Regulatory Agency (MHRA) has confirmed that general compliance with the principles and guidelines of Good Manufacturing Practice of the company's manufacturing unit at L-1, Chikalthana, Aurangabad. In view of this, the approval status of the said unit continues. Further, UK MHRA has considered the said manufacturing unit suitable for Risk based Inspection with reduced inspection frequency of 2 years from the existing inspection frequency of 1 year. The announcement was made after market hours yesterday, 19 December 2016.
The Phoenix Mills entered into a share purchase agreement for acquisition of the entire 15.18% stake in its subsidiary Offbeat Developers (ODPL) held by Vistra ITCL (India) and IIRF Holdings X. Further, the company has entered into a share purchase agreement to acquire Eder River's entire 4.98% stake in ODPL. Subsequent to the completion of both the aforesaid transactions, the shareholding of The Phoenix Mills in ODPL will increase from 74.48% to 94.64%. The announcement was made after market hours yesterday, 19 December 2016.
Opto Circuits (India) (OCIL) said that the company and its subsidiaries received an order worth Rs 91 crore from Philips Health Care for various products manufactured by the Opto Group of companies. Vinod Ramnani, Chairman & Managing Director of OCIL commented that the latest long term contract helps the company in strengthening its relationship with Philips Health Care. The announcement was made after market hours yesterday, 19 December 2016.
Granules India announced that Granules OmniChem facility, a 50:50 joint venture company of Granules India and Ajinimoto OmniChem N.V., located at Vizag, Andhra Pradesh, completed its first inspection by the United States Food and Drug Administration (USFDA) with seven observations. Granules OmniChem will respond to these observations within the stipulated time period. This facility currently manufactures active pharmaceutical ingredients (API) intermediates.
In the consolidated financial statements, Granules India is accounting only its share of profit/loss from Granules OmniChem as per Ind AS regulations with effect from 1 April 2016, Granules India added. The announcement was made after market hours yesterday, 19 December 2016.
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